Philip A. Choyce - Feb 10, 2023 Form 4 Insider Report for Independence Contract Drilling, Inc. (ICD)

Role
EXECUTIVE VP & CFO
Signature
/s/ Philip A. Choyce
Stock symbol
ICD
Transactions as of
Feb 10, 2023
Transactions value $
$0
Form type
4
Date filed
2/14/2023, 04:34 PM
Previous filing
Dec 28, 2022
Next filing
Mar 20, 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ICD Common Stock Options Exercise +1.37K +4.02% 35.5K Feb 10, 2023 Direct F1
transaction ICD Common Stock Options Exercise +4.11K +11.59% 39.6K Feb 10, 2023 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ICD Performance Unit Options Exercise -2.06K -100% 0 Feb 10, 2023 Common Stock 2.06K Direct F1
transaction ICD Restricted Stock Unit Award +36.8K +16.08% 266K Feb 10, 2023 Common Stock 266K Direct F3
transaction ICD Phantom Stock Unit Award +18.4K +920.5% 20.4K Feb 10, 2023 Common Stock 18.4K Direct F4
transaction ICD Restricted Stock Unit Options Exercise -4.11K -1.55% 262K Feb 10, 2023 Common Stock 4.11K Direct F2
transaction ICD Phantom Stock Unit Options Exercise -2.06K -10.05% 18.4K Feb 10, 2023 Common Stock 2.06K Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents vesting of a performance award. Each performance right reprsented the right to receive a share of ICD common stock upon ICD achieving certain relative TSR rankings against a peer group. Performance rights were settled 2/3 in shares of common stock and 1/3 in cash.
F2 Reporting person held an RSU granted on 2/10/20 that vested on 2/10/23. Each RSU was settled in shares of common stock.
F3 Each RSU represents and contingent right to receive one share of ICD commons tock. The reporting person was granted an RSU that vests in three annual installments beginning 2/10/24.
F4 Each phantom stock unit represents the economic equivalent on one share of ICD common stock. Each unit vests in three equal annual installments beginning February 10, 2024. Phantom stock units will be settled in cash.
F5 Reporting person was granted a phantom stock unit on 2/10/20 that vested on 2/20/23. Each PSU is the equivalent of one share of ICD common stock. PSU's were settled in cash.